Wolverine World Wide
The 10-second takeaway
For the quarter ended March 24 (Q1), Wolverine World Wide missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly and GAAP earnings per share dropped.
Margins dropped across the board.
Wolverine World Wide reported revenue of $322.8 million. The 11 analysts polled by S&P Capital IQ expected to see sales of $332.5 million on the same basis. GAAP reported sales were 2.4% lower than the prior-year quarter's $330.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.64. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.55 per share. GAAP EPS of $0.64 for Q1 were 11% lower than the prior-year quarter's $0.72 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.0%, 60 basis points worse than the prior-year quarter. Operating margin was 11.4%, 350 basis points worse than the prior-year quarter. Net margin was 9.7%, 110 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $321.2 million. On the bottom line, the average EPS estimate is $0.48.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 148 members out of 157 rating the stock outperform, and nine members rating it underperform. Among 51 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Wolverine World Wide a green thumbs-up, and two give it a red thumbs-down.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.